This week, the SEC granted Ripple 
$1 a new postponement for three Ripple ETFs, shifting attention to October. With the appeal process concluded, Ripple’s legal hurdles have dissipated, allowing the focus to return to the development of the XRP Ledger ecosystem. Despite the general decline in the market, XRP Coin remains at a competitive level compared to other altcoins.
Ripple’s Current Status
Recently, the SEC lifted the restriction on Ripple’s institutional securities sales, enabling the company to generate liquidity through an exemption decision. While both parties dismissed the main lawsuit in March, the prohibition on Ripple’s securities sales posed a long-term challenge for the company. With the conclusion of the appeal process, Ripple is now free to conduct securities sales without any sanctions.
The lawsuit has ended, and the approval for ETFs is anticipated in October. At this stage, Ripple aims to strengthen its payment infrastructure services. As part of this initiative, Ripple has announced its intent to acquire the stablecoin platform Rail for $200 million. Previously, it had acquired a multi-asset prime broker for $1.25 billion.
Rail, a company that reduces costs and facilitates cryptocurrency payments via a single API, boasts an annual transaction volume of $10 billion and partners with over 12 banks. Ripple’s acquisition of Rail aligns with its strategic goal of enhancing payment infrastructure services and potentially boosting the growth of its stablecoin, RLUSD.
Ripple USD continues its growth trajectory, with the total supply reaching $666 million. Considering its market capitalization of $300 million at the start of June and $455 million in early July, this consistent growth is quite promising. Additionally, transaction volumes are strong, indicating healthy market activity.
XRP Coin Price
Regarding XRP Coin’s price, a further decline could find strong support in the $2.75-$2.67 range. If BTC undergoes a sharper correction, the price could revert to the $2.36-$2 range. Key resistance levels for XRP Coin in a rising market include $3.1, $3.33, and subsequently $3.55-$3.6.
Martinez predicts peaks between $3.9 and $5, contingent upon favorable developments such as ETF approvals and inflation balancing before the year’s end. These factors could materialize, making such targets attainable.
